Adaptimmune Therapeutics plc, of Oxfordshire, U.K., said it intends to offer and sell 12.5 million American depositary shares (ADSs) in an underwritten public offering and grant the underwriters a 30-day option to purchase additional ADSs at the public offering price. The net proceeds will be used to advance the development of the company’s immunotherapies into and through clinical trials as well as for other general corporate purposes. Shares of Adaptimmune (NASDAQ:ADAP) closed June 1 at $11.64, up 57 cents.
Allogene Therapeutics Inc., of South San Francisco, has initiated an underwritten public offering of $450 million of shares of its common stock and expects to grant the underwriters a 30-day option to purchase up to an additional $67.5 million of shares. The number of shares and share price have not yet been disclosed. Shares of Allogene (NASDAQ:ALLO) closed June 1 at $48.94, up 78 cents.
Arca Biopharma Inc., of Westminster, Colo., said it entered a securities purchase agreement with certain institutional and accredited investors to purchase, in a registered direct offering, 348,000 shares of its common stock, at $9 per share, and prefunded warrants to purchase 694,222 shares of common stock at a purchase price of $8.999 per warrant. The gross proceeds are expected to be approximately $9.4 million, and the net proceeds will be used to initiate its clinical trial of AB-201, as a potential treatment for diseases caused by RNA viruses, initially focusing on COVID-19, and for working capital and general corporate purposes.
Baudax Bio Inc., of Malvern, Pa., said it closed a credit facility of up to $50 million from funds managed by Marathon Asset Management. The facility proceeds will be used to support the commercial launch of Anjeso (meloxicam) injection, as a new, intravenous non-opioid option for the management of moderate to severe pain, and for working capital purposes. The financing is in the form of a five-year term loan bearing interest at a fixed rate of 13.5%. The company issued Marathon warrants to purchase 527,100 shares of its common stock at an exercise price of $4.59 per share.
Biolinerx Ltd., of Tel Aviv, Israel, said it entered definitive agreements with several health care-focused, institutional and accredited investors for the purchase and sale of 2.51 million of the company's American depositary shares (ADSs) at $1.75 per ADS, in a registered direct offering. It has also agreed to issue and sell to the investors, in a concurrent private placement, unregistered warrants to purchase up to an aggregate of 2.51 million ADSs. Each ADS represents 15 ordinary shares. The gross proceeds are expected to be $4.39 million, and the net proceeds will be used for general corporate purposes.
Calliditas Therapeutics AB, of Stockholm, said it is launching an investor roadshow for a planned initial public offering of American depositary shares in the U.S. for trading on Nasdaq, and a concurrent private placement of common shares to certain qualified investors in Europe and other countries outside of the U.S. The target size of the global offering is $75 million of gross proceeds plus a potential overallotment of 15%.
Cleveland Biolabs Inc., of Buffalo, N.Y., said it entered definitive agreements with several institutional and accredited investors for the issuance and sale of 1.51 million shares of its common stock at $2.0945 each, in a registered direct offering priced at-the-market under Nasdaq rules. The investors will receive unregistered warrants to purchase up to 757,939 shares of common stock. The gross proceeds are expected to be approximately $3.175 million, and the net proceeds will be used for general corporate purposes.
Nabriva Therapeutics plc, of Dublin, said it entered a definitive agreement with several health care-focused institutional investors, including Fidelity Management & Research Co. LLC, for the purchase and sale of 41.44 million ordinary shares and warrants to purchase up to an aggregate of 41.44 million ordinary shares in a registered direct offering priced at-the-market under Nasdaq rules. Each ordinary share and accompanying warrant are being sold together at a combined purchase price of $0.91686. The warrants have an exercise price of $0.792 per share. The gross proceeds will be approximately $38 million.